The lack of hostile takeovers and relatively modest wealth gains associated with REIT mergers motivate two fundamental … emerge from this study. First, REITs most often utilize a sales process resembling an auction, where an average of 19 … yet previously unexplored questions: how competitive are REIT takeovers, and how exactly does a REIT sell itself to …

The lack of hostile takeovers and relatively modest wealth gains associated with REIT mergers motivate two fundamental … emerge from this study. First, REITs most often utilize a sales process resembling an auction, where an average of 19 … yet previously unexplored questions: how competitive are REIT takeovers, and how exactly does a REIT sell itself to …

businesses in a negotiation with one buyer. I argue that, when potential buyers are market competitors, an auction may generate …Intuition suggests that an auction maximizes revenue for the seller; yet empirically, many companies sell their … lower revenue for the seller. First, in an auction, private information of the seller is disclosed to all bidders during the …